MUMBAI: The RBI’s decision to keep the Repo and CRR rates unchanged is letting the entire industries in general and housing industry in particular, down considering the slowdown in the economy.

A cut in both the rates was the need of the hour as it would have led banks to bring down the rates and made home loans affordable to the buyers. Currently, sentiment to invest in any growth or expansion of any business is low, and there was a need to provide succor to the consumers at large. Considering the past few cuts in the rates, Industry and home buyers were expecting the similar cut this time too.

The unchanged rate will hamper home buyer’s decision to go ahead with their purchases. We hope the central bank will at earliest slash both the Repo and CRR rates in the same succession as it went on increasing and derailing the entire growth of the economy, said Mr. Vimal Shah, President, MCHI-CREDAI expressing his disappointment on today’s RBI policy announcement.

Latest Realty News

DELHI: In a major relief to property owners in north Delhi, the municipal corporation has announced self assessment amnesty for regularization of unauthorized construction in unauthorized regularized colonies. An order in this regard was issued by the North Delhi Municipal Corporation on 14th June.

MUMBAI: If affordable housing is what you are looking for in Mumbai, then the Virar-Palghar-Boisar stretch is definitely worth consideration. There are several ongoing projects, offering multiple home options in the range of Rs 27-60 lakhs. Residential projects based in these areas, offer configurations of 1, 2 and 3-BHK units.

PATNA: The Sunday split in NDA hit the market sentiments, particularly in the real estate sector. But, the prices of available unoccupied flats in multistoreyed apartments in Patna and other cities are not expected to plummet.

MUMBAI: For Mumbai, the city which has for years carried the unwholesome reputation of being the most over-priced in terms of residential real estate valuations, there is no relief in sight for aspiring home buyers. Over the last four years, property valuations in the financial capital have increased by an average of 66 per cent. All ‘expert’ predictions over the last three years of an imminent correction have proved to be wrong.

MUMBAI/DELHI: K. Ramchand, managing director at one of India's biggest road builders, is doing something unusual to help dispel the gloom pervading much of the country's infrastructure sector today: bidding for new projects.

MUMBAI: The proposed Real Estate Regulatory Bill is “welcome”, but it may make homes more expensive. Mandatory registration of property before advertising is likely to impact smaller players, says C. Shekar Reddy, National President, Confederation of Real Estate Developers Association of India (CREDAI). But pushing for amendments to the Bill is not his only issue. Staving off taxes charged on deemed profits (the differential amount that arises when the registration value of a property is higher

BANGALORE: When the Special Economic Zone (SEZ) Act 2005, supported by the SEZ Rules was introduced in 2006, the idea was to make it easier to establish large, self-contained facilities with excellent infrastructure with the aim to promote exports. As per the guidelines, SEZs can be developed by public or private players or even jointly, by State governments, their agencies, or on the public-private partnership (PPP) model.